Toyota Output Shrinks for Fourth Month on Shortages, China
- Production fell 8.6% in July from year ago to 706,547 units
- Carmaker’s global sales decline for 11th straight month
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Toyota Motor Corp.’s global output sank for the fourth straight month as a shortage of semiconductors and supply chain disruptions caused by Covid lockdowns in China hurt production.
Output fell 8.6% in July from a year earlier to 706,547 vehicles, the Japanese automaker said in a statement Tuesday. Sales declined 7.2% to 797,179 units, extending a slump for an 11th consecutive month.